The U.S. Securities and Exchange Commission has requested further comment on WisdomTree’s filing for a spot Bitcoin ETF.
It has come to light that WisdomTree applied for a spot Bitcoin ETF in February 2022. In March, the SEC issued a notice delaying the deadline for deciding whether to approve the listing of the WisdomTree spot Bitcoin ETF, extending the approval period for the WisdomTree Bitcoin Trust to May 15. day. The SEC is now asking commenters to answer a series of questions, such as whether WisdomTree's proposed product is vulnerable to manipulation and whether the Bitcoin market has grown to a stage where there is no significant risk of manipulation, for 21 days to submit data and arguments. Another two weeks to submit rebuttals to those comments. While the U.S. Securities and Exchange Commission has approved futures-based bitcoin ETF products, they maintain that the spot market has not yet reached a perfect agreement to reduce fraud.
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